JuSun/iStock via Getty Images Hardware companies in the semiconductor space like Intel ( INTC ) and Marvell Technology ( MRVL ) have seen impressive runs so far this year. Hardware is more difficult to replicate than software, and it’s easy to see the competitive advantages that these companies have. Meanwhile, I’m focused on infrastructure ‘hardware’ in the form of moat-worthy real assets that ar...
JuSun/iStock via Getty Images Hardware companies in the semiconductor space like Intel ( INTC ) and Marvell Technology ( MRVL ) have seen impressive runs so far this year. Hardware is more difficult to replicate than software, and it’s easy to see the competitive advantages that these companies have. Meanwhile, I’m focused on infrastructure ‘hardware’ in the form of moat-worthy real assets that are also hard to replace. This brings me to American Tower ( AMT ), which I last covered in March, highlighting its attractive valuation and robust growth drivers. That was a prescient call, with AMT having delivered a 12.8% total return since my last piece, edging out the 12.1% rise in the S&P 500 ( SPY ) over the same timeframe. At the current price of $189, AMT sits well inside the bottom half of its 52-week range, as shown below. AMT Stock 1-Yr Trend (Seeking Alpha) In this article, I revisit AMT including recent business results , and discuss why it remains a solid ‘Buy’ at present for potentially strong total returns, so let’s dig in! Why AMT? American Tower is one of the largest global REITS on the market today. It owns, operates, and develops multi-tenant communications real estate. This includes 150K communications sites and a highly interconnected footprint of U.S. data center facilities through the CoreSite acquisition years ago. AMT’s strength comes from its aforementioned asset base, which works in tandem to tie together wireless capacity, cloud connectivity, and AI-driven compute demand. AMT has been investing in AI to accelerate margin upside, with management expecting 200-300 bps of adjusted EBITDA margin expansion by the end of this decade. AMT delivered steady growth during Q1 2026, with consolidated property revenue rising by 3% YoY excluding non-cash items and foreign exchange. When normalizing for Dish churn impact, property revenue grew by 5% on a cash and FX-neutral basis. This growth was driven by 4% OTBG (organic tenant billings growth) excluding Dish...
当AI不再仅仅是提高效率的工具，而是逐渐渗透进我们的研究方法、决策流程甚至情感依赖中，我们是否正在经历一场悄无声息的“认知投降”？ 在 AI & Society Forum 2026 的一场圆桌对话中，腾讯研究院与来自香港大学的哲学、金融学与法学专家们，共同探讨了一个深刻的课题：“后智力稀缺时代——经济、社会与真相的重构”。 这并非关于技术的枯燥技术研讨，而是一场关于人类主体性如何与算法共存的灵魂...
当AI不再仅仅是提高效率的工具，而是逐渐渗透进我们的研究方法、决策流程甚至情感依赖中，我们是否正在经历一场悄无声息的“认知投降”？ 在 AI & Society Forum 2026 的一场圆桌对话中，腾讯研究院与来自香港大学的哲学、金融学与法学专家们，共同探讨了一个深刻的课题：“后智力稀缺时代——经济、社会与真相的重构”。 这并非关于技术的枯燥技术研讨，而是一场关于人类主体性如何与算法共存的灵魂质询：当平庸的分析触手可及，人类作为思考者的底线在哪里？当AI学会了“谄媚”与“均值化”，我们如何避免陷入真理的荒原？ 以下是本次圆桌论坛的实录。 主持人: 李刚 腾讯研究院首席研究员 嘉宾: Rachel Sterken 香港大学哲学系系主任 陈志武 ，香港大学香港人文社会研究所所长、经管学院金融学讲座教授 Giuliano G. Castellano 香港大学法律学院副教授 Herman Cappelen 香港大学哲学系讲席教授、AI与人类实验室主任 编辑整理： 窦淼磊 腾讯研究院高级研究员 李刚 ：感谢各位教授来到今天的讨论。我刚学了一个词，叫“认知投降”（cognitive surrender）。我确实把自己的认知能力交给了AI，让它帮我制定这场讨论的提纲。 首先请问几位，你们日常研究和生活中使用AI智能体和各种模型吗？你们与AI互动的第一手体验是什么？好的、坏的、丑陋的方面分别是什么？请举些例子。 Rachel Sterken教授 ：我是一名哲学家。我们喜欢做的事情之一是考虑有争议的话题、思考各种论证。所以有时候我试着用AI来审查论证、产生想法、讨论有争议的话题。有时候我觉得它非常有用，因为它会指出一些我没有想到的东西。 但有时候我发现它太过迎合了。大家都熟悉“谄媚”（sycophancy）问题，但我认为这个问题要深刻得多，而且很难被我们察觉。当我与AI互动时，它非常微妙——它捕捉我提问的风格、我如何框定问题，然后给出一段非常流畅的文字，用我会觉得舒服的方式来框定这个议题。而且它做得如此隐蔽，我根本察觉不到谄媚的存在。所以这一点让我相当担忧。 我确实觉得它在生成想法、帮助思考论证方面很有用，但我非常担心这对知识和我们获取真相的能力意味着什么？如果每个人都只是根据自己提问的方式得到迎合性的答案。 另一件事是，我发现自己很容易将AI拟人化，把它的回答当作有内容的、对我...
Lumentum (NASDAQ: LITE) has become one of the market's most dramatic artificial intelligence infrastructure stories. The stock has soared, revenue growth is accelerating, and Wall Street still sees upside. But with expectations already sky-high, investors now face a critical ques
Lumentum (NASDAQ: LITE) has become one of the market's most dramatic artificial intelligence infrastructure stories. The stock has soared, revenue growth is accelerating, and Wall Street still sees upside. But with expectations already sky-high, investors now face a critical ques
PM promises to fight any leadership challenge, saying any successor would face same problems as him UK politics live – latest updates Keir Starmer has said he knows he has to “turn things around” after a series of crises culminating in the resignation of John Healey, the defence secretary, but warned that any successor would face the same difficult decisions. In an interview with the BBC after Hea...
PM promises to fight any leadership challenge, saying any successor would face same problems as him UK politics live – latest updates Keir Starmer has said he knows he has to “turn things around” after a series of crises culminating in the resignation of John Healey, the defence secretary, but warned that any successor would face the same difficult decisions. In an interview with the BBC after Healey’s departure in a row over defence spending, Starmer promised again to fight any leadership challenge from Andy Burnham or others, saying: “I’m not going to go away.” Continue reading...
La selección masculina de Haití logró lo impensable y se clasificó al Mundial por primera vez en una generación. Pero sus aficionados no son bienvenidos en Estados Unidos. (Source: Bloomberg)
La selección masculina de Haití logró lo impensable y se clasificó al Mundial por primera vez en una generación. Pero sus aficionados no son bienvenidos en Estados Unidos. (Source: Bloomberg)
Acquisition speculation is the lifeblood of cult-stock trading. The cleanest takeover targets share three traits: strategic value to a deep-pocketed partner, a cash runway that does not force a fire sale, and proprietary intellectual property that a giant cannot easily replicate. This is a scenario analysis, not a report on any announced or imminent deal. ... Acquisition Odds: How These 4 Cult Sto...
Acquisition speculation is the lifeblood of cult-stock trading. The cleanest takeover targets share three traits: strategic value to a deep-pocketed partner, a cash runway that does not force a fire sale, and proprietary intellectual property that a giant cannot easily replicate. This is a scenario analysis, not a report on any announced or imminent deal. ... Acquisition Odds: How These 4 Cult Stocks Stack Up as Buyout Targets
Kobus Louw/E+ via Getty Images The current market setting is favorable for covered call ETF investing. Heightened uncertainty around AI, tech valuations, inflation, oil prices, and geopolitics (basically, pick any area) is supportive of elevated volatility. Higher volatility is precisely what is required to drive up option premiums that covered call ETFs get by giving up part of the underlying ass...
Kobus Louw/E+ via Getty Images The current market setting is favorable for covered call ETF investing. Heightened uncertainty around AI, tech valuations, inflation, oil prices, and geopolitics (basically, pick any area) is supportive of elevated volatility. Higher volatility is precisely what is required to drive up option premiums that covered call ETFs get by giving up part of the underlying asset's upside participation. Plus, at this particular juncture, the odds for an incremental upside (especially a large one) seem to be smaller than for a leg down. So, the biggest covered call ETF drawback is most likely irrelevant, at least until a healthy correction after 3.5+ years of strong bull run has taken place. Of course, I might be wrong, and the market could surge higher from here despite the plethora of logical arguments and signs indicating that a correction is right around the corner. However, I think that even if the market goes up, the move should not drastically exceed 5% to 10% in a certain 30-day period, which is the most common out-of-the-money covered call ETF focus zone. Now, the thing that we have to consider next, after deciding to trade in the covered call ETF space, is what instruments to buy. The issue is that most of the largest (and popular) covered call ETFs are biased towards the most vulnerable areas of the market: i.e., the S&P 500 ( SPY ) and the Nasdaq-100 ( QQQ ). Namely, the areas that would deserve a healthy correction. The NEOS S&P 500 High Income ETF ( SPYI ), JPMorgan Equity Premium Income ETF ( JEPI ), and the JPMorgan Nasdaq Equity Premium Income ETF ( JEPQ ) illustrate the issue nicely—i.e., high AuM figures and concentration in SPY and/or QQQ names. The way I would suggest navigating around this issue is by gravitating towards specific covered call ETFs that exhibit “low beta/low correlation” profiles against the highest-priced (and thus the most vulnerable) assets and carry a potential of actually appreciating in price as the mark...
champc/iStock via Getty Images As investors continue searching for technology stocks that offer both strong price performance and attractive valuations, only a handful of companies currently meet both criteria. At present, three information technology stocks combine A-rated valuation grades with strong momentum scores, placing them among the sector's leading "cheap high flyers." Leading the group ...
champc/iStock via Getty Images As investors continue searching for technology stocks that offer both strong price performance and attractive valuations, only a handful of companies currently meet both criteria. At present, three information technology stocks combine A-rated valuation grades with strong momentum scores, placing them among the sector's leading "cheap high flyers." Leading the group is Sandisk Corporation ( SNDK ), which earns an A+ momentum grade, the highest possible rating, alongside an A valuation grade. Operating in the technology hardware, storage, and peripherals industry, Sandisk is also the largest company on the list, with a market capitalization of approximately $278.63 billion. Its combination of strong price performance and attractive valuation has helped it secure the top spot in the ranking. The second stock on the list is Arrow Electronics, Inc. ( ARW ). The technology distributor carries an A- momentum grade and an A valuation grade, demonstrating that investors can still find compelling value opportunities among established technology companies. Arrow Electronics has a market capitalization of approximately $11.40 billion. Rounding out the group is SharonAI Holdings Inc. ( SHAZ ), which also earns an A- momentum grade and an A valuation grade. With a market capitalization of roughly $1.15 billion, the company operates in the internet services and infrastructure space and has combined strong recent performance with an attractive valuation profile. Momentum grades measure a stock's price performance relative to its peers and are assigned on a scale from A+ to F, with A+ representing the strongest momentum. Valuation grades use the same scale, with A+ indicating the most undervalued stocks and F representing the most overvalued. The three information technology stocks currently meeting these criteria are: Sandisk Corporation ( SNDK ), Momentum: A+, Valuation: A Arrow Electronics, Inc. ( ARW ), Momentum: A-, Valuation: A SharonAI Holdings...